Mickey Mouse just got superpowers. Variety reports that The Walt Disney Company has made a deal to purchase Marvel Entertainment in a $4 billion stock and cash transaction.
Disney will acquire ownership of over 5,000 Marvel characters, including the wildly popular Iron Man, Spider-Man, X-Men, Captain America, Fantastic Four and Thor. The boards of both companies have approved the deal, so now it must be approved by Marvel shareholders and submitted for antitrust review.
Disney’s president and CEO Robert Iger said in a statement: “This transaction combines Marvel’s strong global brown and world-renowned library of characters including Iron Man, Spider-Man, X-Men, Captain America, Fantastic Four and Thor with Disney’s creative skills, unparalleled global portfolio of entertainment properties, and a business structure that maximizes the value of creative properties across multiple platforms and territories.”
But what this really means is that soon you’ll be able to walk into the Disney store and buy one of those cube washcloths that expands in water with all of the X-Men on it! And maybe a soft cuddly Iron Man of your very own! People are certainly excited about these prospects – according to ABC News, shares of Marvel were last traded at $48.40, up more than 25 percent from their closing price on Friday.
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